TVS Motor to launch electric and hybrid vehicles

Chennai, Aug 11 (IANS) Two and three wheeler maker TVS Motor Company Limited will launch electric and hybrid vehicles soon, said a top company official.

Speaking to reporters on the sidelines of the company’s annual general meeting here, company Chairman Venu Srinivasan said the electric vehicle will be rolled out early part of next year while the hybrid vehicle will be launched by this year end.

According to him, by 2020, around 20 per cent of the vehicles in the country will be electric led mainly by the urban market while the population of hybrid vehicles will be higher.

Queried about the launch of high powered bikes in tie up with BMW, Srinivasan said the company would soon launch 310cc bikes, based on BMW platform.

Meanwhile, TVS Motor on Friday reported a net profit of Rs.129.47 crore for the first quarter of the current fiscal up from Rs 121.25 crore posted for the quarter ended June 30, 2016.

The company reported a total revenue of Rs 3,799.81 crore during the first quarter up from Rs 3,184.35 crore earned in the quarter ended June 30, 2016.